- FII’s sold 16.2 K contract of Index Future worth 962 cores ,12.4 K Long contract were liquidated by FII’s and 3.8 K short contracts were added by FII’s. Net Open Interest decreased by 8.5 K contract, so fall in market was used by FII’s to exit long and enter shorts in Index futures. The Importance Of Trading Plan WHICH emotion is overpowering you the Most, To Understand the same I have put a Poll on Twitter (https://twitter.com/brahmesh), Please participate
- As discussed in last analysis Nifty till holding 7850-7834 range we can see the move towards 7972/8000. Bearish only on close below 7800. We has the news based market reaction today, due to change in taxation policy between India and Mauritius b As I always Say Plan the Trade and Trade the Plan, Weekly Chopad Level was 7777 Low made in morning was 7780 and Bounced back almost 100 points, TC level at 7838 which again gave long trade after whipsawing overnight position but again if some one has traded with discipline Profit could be made. We have been highlighting the importance of 7850 today again market closed at 7849, Time Correction are difficult to trade and required lot of expertise, but who survive this period will be rewarded handsomely in the next BIG move.Bank Nifty unable to break 16500,EOD Analysis
- Nifty May Future Open Interest Volume is at 1.67 core with liquidation of 17.6 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @7953, continue to trade below it.
- Total Future & Option trading volume was at 2.91 Lakh core with total contract traded at 2.4 lakh , PCR @0.99, Trader’s Resolutions for the New Financial Year 2016-17
- 8000 CE is having Highest OI at 65.4 lakh, resistance at 8000 .7500/8000 CE added 3.3 lakh so bears added in small quantity.FII bought 9.4 K CE longs and 9.2 K CE were shorted by them .Retail bought 13.3 K CE contracts and 10 K CE were shorted by them.
- 7700 PE OI@51.4 lakhs having the highest OI strong support at 7700. 7200-7700 PE added 4.2 Lakh in OI so strong base near 7500-7600 zone .FII bought 18.3 K PE longs and 3.7 K shorted PE were covered by them .Retail sold 0.02 K PE contracts and 12.4 K PE were shorted by them.
- FII’s sold 362.19 cores in Equity and DII’s bought 729.59 cores in cash segment.INR closed at 66.57
- Nifty Futures Trend Deciding level is 7860 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7840 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 7875 Tgt 7901,7930 and 7970 (Nifty Spot Levels)
Sell below 7840 Tgt 7820,7800 and 7777 (Nifty Spot Levels)
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